The product, called i-stock, will be accessible without the assistance of a financial adviser and is going to be available on every type of electronic device as well as on the firm’s website.
Tavistock said that the app was an access tool and does not provide any form of investment advice to its users.
The app and website would allow clients to open Isas and general investment accounts as well as receive daily updates on the value of their investments.
Clients will not be charged a fee for using the app, and in due course its functionality will be expanded to include additional investment products and services such as Sipps and other funds, the firm said.
Tavistock is also working towards opening access to the app to the financial advice firm Lighthouse “or any of its affinity group partners”, as it holds 5.3% of Tavistock shares.
However, the company was acquired by wealth management firm Quilter in April 2019.
International Adviser understands that, as it stands, the company has not finalised its agreement with Quilter, and thus for the time being it would be business as usual.
However, once the agreement is finalised and Quilter becomes the owner of Tavistock’s shares, “such a change of control will enable Tavistock to cancel its strategic agreement with Lighthouse should it chose to do so”.